Video: Sochi Park, a $371 million theme park that locals call “Putin World” due to Russian president Vladimir Putin’s heavy involvement with its creation, will not be open in time for the Olympics. Matt Lauer reports from Russia.

For those with time to burn between the various Winter Games at Russia’s Olympic village, visitors can peek next door at the grand, mysterious spectacle known as Sochi Park.

The massive hotel and amusement park development, dubbed "Putin World" after Russian President Vladimir Putin, has caught the attention of nearly everyone nearby.

The park, which boasts a flagship beige building with a red castle-like roof, will offer visitors a rich history lesson about the nation, as well as retail shops, rides and a place to sleep.

The price tag for the project: about $370 million, or about 13 billion rubles.

Video: With the opening of the Olympic Games just two days away, the Russian president arrived in Sochi amid last-minute preparations: Several athletes have been questioning the conditions of certain courses, and some accommodations are still not fully ready. NBC’s Keir Simmons reports.

Developers rushed to get the park done by the start of the Winter Games, but it hasn't yet been finished — construction workers continued to make final touches to the site on Tuesday.

Development has been marred by mysterious distractions, said TODAY’s Matt Lauer, who recounted a story circulating in the area that the oversized steel bolts crucial to attaching the roller coaster to the concrete slabs in the ground somehow got “misplaced.” Russian officials later apparently “found” the bolts after tracking them down.

The park’s hotel, which lights up at night, is reportedly fully occupied but there's no official word about who the tenants are. Word on the street, however, has it that members of the Dutch and Sri Lankan royal families are staying there.

On Tuesday morning, Putin arrived next door to pay a visit to the Olympic village and meet with Game officials. It remains to be seen whether he'll also pay a visit to "Putin World."